Construction companies must embrace change and leverage new technologies and tools such as big data collection and analysis, machine learning and trend analysis, and digital twin modelling if they hope to remain competitive, says Jordan Thomson, a professional engineer and senior manager at KPMG.
By / Grant Cameron | Journal of Commerce
“We feel the move to digital and the broad array of technologies and approaches that it unlocks holds enormous benefit to all members of the project team,” Thomson explains. “As we’ve seen in the manufacturing industry, digital transformation promises to bring new levels of efficiency and performance. Contractors and designers that embrace these new technologies will be able to increase efficiently, develop more innovative solutions, improve safety outcomes, and provide better value to owners.
“While some construction companies have started this transformation, we feel there is a real risk that companies that don’t embrace these technologies will get left behind.”
Thomson, along with Kathleen Boyd, a manager at KPMG, who both work within the firm’s Global Infrastructure Advisory practice, recently provided their perspective on the issues in an insight report produced by the Canadian Construction Association (CCA) that looked at innovation and R&D in construction.
The report notes that, given the construction industry accounts for six per cent of global GDP, the adoption of new technologies and ways of working could have significant economic and social impacts across Canada and around the world.
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Reprinted with permission from Journal of Commerce. Read more at | canada.constructconnect.com
